SEC to monitor Stockton's bankruptcy

STOCKTON – The city's contentious bankruptcy has caught the attention of an attorney for the U.S. Securities and Exchange Commission.

The Record

STOCKTON – The city's contentious bankruptcy has caught the attention of an attorney for the U.S. Securities and Exchange Commission.

SEC bankruptcy attorney Sarah Moyed of Los Angeles, who filed a two page notice in Stockton's case, said today it is common practice for the federal agency to monitor corporate and the less frequent municipal bankruptcies.

The SEC is charged with protecting investors' rights in stocks and bonds that are publicly traded.

Stockton filed its Chapter 9 case June 28. A fight taking shape in the case is between bond insurers and the California Public Employees' Retirement System.

Read Tuesday's Record for more on this story by staff writer Scott Smith.